Clenergen Corporation
OTCQB : CRGE

Clenergen Corporation

October 20, 2010 07:25 ET

USAID Selects Clenergen as One of Its Top 12 Projects Approved for Equity Financing to Its Investment Partners in India

LONDON, ENGLAND--(Marketwire - Oct. 20, 2010) - Clenergen Corporation (OTCQB:CRGE) today announced that USAID have sponsored Clenergen at its Investment Forum being held in Bombay on October 21, 2010. Twelve projects were selected for presentation to its Indian investment partners, a pool of 380 Investors. Over 50 major banks, 40 Venture Capital Private/Equity Groups and expert project proponents and Consultants will be attending the Forum

Clenergen Corporation has submitted four projects for $10 million of equity financing. The projects will create an additional 16MW/h of generating capacity at its two operational biomass power plants in Tamilnadu India, along with the acquisition of an existing 7.5MW/h biomass power plant in Karnataka, India. The company projects an operating capacity of 40Mw/h biomass power plants in India with estimated annual gross revenue of $40 million.

Commenting on the selection, Mark Quinn, Executive Chairman of Clenergen Corporation said "USAID's sponsorship of Clenergen's Indian projects to its investment partners is a prestigious recognition of our business model and illustrated the progress we have achieved in India over the past two years".

About Clenergen Corporation

Clenergen Corporation is a publicly-traded company with its common stock quoted on the Over-the-Counter-Bulletin Board (OTC-BB Symbol: CRGE.OB). Clenergen offers strategic clean energy generation and supply of biomass feedstock to address the requirement for renewable and sustainable supplies of electricity. Clenergen has developed a unique modular system for gasification and localized plantation management. Clenergen also plans to provide biomass feedstock for producing wood pellets for co firing with coal to produce low emission electricity.

Clenergen Corporation intends to use proprietary and mixed biomass feedstock to implement sustainable supplies of clean energy for regional, captive end users, remote islands, and mining companies and, through government- or privately-owned power grid systems, other end users, including private homes. The "Distributed Environmental Power System" marries significant proprietary advancements in plant science with proven long standing engineering technologies to achieve this goal. For further information on Clenergen Corporation and its products and services, go to: www.clenergen.com.

Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"). To the extent that any statements made in this press release contain information that is not historical, these statements are essentially forward-looking. Forward-looking statements can be identified by the use of words such as "expect," "plan," "will," "may," "anticipate," "believe," "should," "intend," "estimate," and variations of such words. Forward-looking statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, those risks and uncertainties contained in this press release and those identified in the periodic reports that the company files with the Securities and Exchange Commission (the "SEC") pursuant to the Exchange Act.

Contact Information

  • Clenergen Corporation
    Jessica Hatfield
    0044 (0)207 739 0028
    0044 (0)207 657 3275 (FAX)
    www.clenergen.com